HDFC Life Insurance FAQs

HDFC provides a wide range of Term, Savings, Investment, Pension, Health and Child plans. HDFC Life Insurance has a claim settlement ratio of 99.07% for the year 2019-20. HDFC provides 24x7 customer care service.

You should choose the policy that best suits your needs depending on your insurance objectives, your income, your existing policies (if any), your assets, liabilities, your expenses.

HDFC Life Insurance offers various modes of premium payment:

1) Online: Net Banking, UPI, Debit Card, Credit Card & E-Wallets.

2) Cheque: You can drop your policy premium cheque at any HDFC Life Insurance branch office or at any HDFC bank.

3) Cash: You can pay policy premiums in cash.

If the nominee dies or is not mentioned in the policy, your family members will have to produce proof establishing their right to claim the policy benefit.

Yes, The insurer allows you to track the real-time status of your application through the customer portal.

Original cancelled cheque, bank statement with pre-printed account number, IFSC code or a copy of the bank passbook can be submitted.

After sending the documents HDFC Life will send an acknowledgement letter within 15 days of receiving them. Any further requirements shall be notified via letter, email or SMS on your registered mobile number.

You can upload the documents online, visit the nearest HDFC Life Insurance branch office or you can submit the documents to the Health Claims Team for processing.

If the nominee does not have the original policy documents an Indemnity Bond should be submitted in the place of the policy documents. Note that the Indemnity Bond should be duly notarized.

In the absence of a beneficiary, your family members will have to produce evidence or proof to establish their right to claim the policy benefit.

A claim will be declined if it does not abide by the following:

• Declaration as well as authorisation that was mutually agreed upon by the insurer and insurer at the inception of the policy, as per the details of the application form
• Terms and Conditions mentioned in the policy document

Policyholders get to nominate a person at the time of filling up a policy proposal where he/she is entitled to the death benefits under this policy they are called nominees.

HDFC Life's claim settlement ratio is 99.39%, indicating a high rate of successful claims being paid out.

Yes, HDFC Life provides a free look period where you can cancel your policy if you're not satisfied with its terms and conditions within a specified period and get a refund of the premiums paid.

Premiums for HDFC Life Term Insurance are influenced by factors like age, health condition, coverage amount, smoking habits, and the chosen policy term.

Premiums can be paid online using various methods like net banking, credit/debit cards, UPI, wallets, or through offline and auto payment options.

Choosing HDFC Life offers financial protection, a high claim settlement ratio, diverse product offerings, and customer-friendly features.

The different types of life insurance plans offered by HDFC Life Insurance Company include ULIPs, Savings Plans, Child Plans, Pension Plans, Retirement Plans, Term Plans, and Investment Plans.

Yes, if there are any changes in your information or if your existing policy is older than 5 years, you may need to resubmit documents.

Yes, you can initiate the cancellation process online by following the procedure on HDFC Life's website.

You can easily check the status of your HDFC life insurance policy by logging into the insurer's website and on the dashboard, you can see the status of the chosen life insurance policy. Also, please note that if you have purchased the policy from InsuranceDekho then you can check the policy status on our portal also.

The toll-free customer care number for HDFC Life Insurance is 022 6113 1334.

The reasons that make HDFC Life Insurance Company a good choice involve financial security, a strong claim settlement record, a wide range of insurance products, and excellent customer support.

If you fail to pay your premium within the grace period, your HDFC Life insurance policy may lapse.

Yes, you can surrender your policy before maturity to receive a surrender value, but note that surrender charges may apply.

The free look period for cancellation is typically 30 days from the start of coverage.

Most ULIPs from HDFC Life Insurance have a lock-in period of three to five years.

You can request a refund by submitting a written request along with your policy documents and proof of premium payment either online or by mail

To surrender or break your HDFC Life policy, you can request a surrender form from HDFC Life's customer service or website. Fill out the form and submit it along with any required documents.

Yes, you can withdraw your policy after the policy start date, usually by visiting an HDFC Life branch and filling out the necessary forms.

Yes, you can initiate the cancellation process online by visiting the official HDFC Life's website. You can even contact InsuranceDekho’s customer support team if you’ve purchased the policy through us.

HDFC Life is one of the largest life insurance companies in India, known for its extensive network, customer-centric approach, and diverse range of insurance products. It is a trusted brand with a strong financial position and a wide customer base.

HDFC Life merged with Exide Life Insurance, a prominent life insurance company in India. This merger further strengthened HDFC Life's position in the insurance sector.

Yes, HDFC Life offers flexibility in premium payment frequencies. After purchasing a policy, you can change your premium payment frequency to any of the available options, which typically include monthly, annually, half-yearly, or quarterly payments.

If your medical tests fail in HDFC Life Insurance, your life insurance premium will increase because insurers assess risks based on health conditions, and premiums may increase if the insured individual is considered to have higher health risks.

Yes, diabetics can qualify for life insurance with HDFC Life, but premiums may vary based on health conditions and management of the illness.

Yes, you can pay your HDFC Life insurance premium before the due date through various channels such as online payments, mobile apps, or by visiting HDFC branches.

If you stop paying premiums after two years, your life insurance policy may lapse.

You can check your HDFC Life Insurance details through various methods like by logging into the HDFC Life website or mobile app, by contacting HDFC Life's customer service helpline, or by visiting a branch to inquire about your policy details.

The refund amount for HDFC Life Insurance depends on various factors including the type of policy, the duration for which premiums have been paid, and the surrender value of the policy. When you surrender or cancel your HDFC Life Insurance policy before its maturity date, you may receive a surrender value which is the accumulated value of your premiums after deducting applicable charges, fees, and surrender penalties.

To withdraw your HDFC Life policy, you'll need to fill out a surrender form available on the HDFC Life website or from their branch offices. Complete the form and submit it along with any required documents. The surrender value, which may be less than the total premiums paid, will be paid out after deducting applicable fees.

Yes, you can surrender your HDFC Life policy after completing 5 years of premium payment. The surrender value will depend on the policy terms and conditions, including the total premiums paid and any applicable charges.

Maturity claim in HDFC Life refers to the amount payable to the policyholder upon the completion of the policy term.

The best HDFC Life Insurance plan depends on individual needs and preferences. But, some of the popular options include Click2Protect and Click2Achieve.

Yes, premiums paid for HDFC Life Insurance are eligible for tax benefits under Section 80C of the Income Tax Act, 1961.

Sum assured in HDFC Life Insurance refers to the guaranteed amount payable in case of the insured event occurring during the policy term.

The surrender value of HDFC Life Insurance is calculated on the basis of premiums paid, policy term, and duration of the policy.

Yes, HDFC Life is a reputable insurance provider and is considered safe.

HDFC Life is a separate entity from HDFC Bank but operates under the same parent group, HDFC.

HDFC Life Insurance typically covers suicide after a certain period from the policy start date, usually after one year.

Contact HDFC Life's customer service with the necessary documents including the death certificate, policy details, and other relevant information to initiate the claim process.

HDFC provides a wide range of term, savings, investment, pension, health and child plans.

HDFC Life Insurance featured a Claim Settlement Ratio of 99.07% for the year FY 2019-20.

The toll-free customer care number of HDFC Life is 1800 266 9777.

You can return the policy stating the reasons why you disagree with terms and conditions of the policy within the free look period as per regulations of IRDA. For Life Insurance policies, the free-look period starts 15 days from the date of receiving policy documents.

To check the status of your HDFC life insurance policy logs onto MyAccount on the HDFC Life website. You can get the details by entering the necessary details.

HDFC offers a standard grace period of 30 days for half-yearly or quarterly premium payment, and for monthly premium payment, the grace period is of 15 days.

Purchasing life insurance online is fast and convenient, requires minimum paperwork, is economical and provides you with real-time tracking.

United-linked Insurance Plans are investment plus protection plans. They offer an opportunity to make an investment through market-linked returns and provide life insurance cover as well.

To check the status of your HDFC life insurance policy logs onto MyAccount on the HDFC Life website. You can get the details by entering the necessary details.

HDFC offers a standard grace period of 30 days for half-yearly or quarterly premium payment, and for monthly premium payment, the grace period is of 15 days. The policy will not lapse during the grace period and will lapse thereafter if no premium is paid.

If your age is above the minimum age limit set by the insurance company, then you will have to go through a medical test.

To submit the cancellation request, you must fill and submit the Mandate Deactivation Form available at your nearest HDFC Life branch at least 15 days before the due date. You can also place a request for Auto Debit Deactivation by emailing the form at service@hdfclife.com from your registered email ID.

Tax benefits under Section 80C are applicable for a term insurance plan at a maximum of Rs. 1.5 Lakh in any given financial year.

If you are already an existing customer of HDFC Life Insurance, you need to re-submit the documents only when there is any change in the information that had been provided in the previous policy.

A life insurance policy offers maturity benefits. On the other hand, a term insurance plan offers no such benefits but simply offers the nominee/beneficiary of the policyholder the sum assured in case the policyholder dies during the policy duration.

HDFC Life offers a grace period of 30 days for the premium payments made yearly, half-yearly, quarterly. The grace period for monthly premium payments is 15 days from the due date. The policy will not lapse during the grace period and will lapse thereafter if no premium is paid.

Unit-Linked Plans as known as ULIPs are a category of insurance plans that serve the dual purpose of providing insurance and investments as well. When you purchase a ULIP, you pay a premium for the selected life cover amount. A portion of the premium is used in providing the life cover and the rest is used for investment purposes.

Factors that affect premium calculation for Max Life Term Insurance Plan are Age, Gender, Medical History, Geographic location, BMI Index and Lifestyle of a person who is purchasing the insurance plan.

A free look period of 15 days is offered by HDFC Life from the day the policyholder receives the original policy documents. In case the policy is purchased by the policyholder through distance marketing then the free look period offered is 30 days.

Change in premium amount is based on several factors like addition of riders or declaration of habits like smoking, drinking etc. or the declaration pertaining to employment, which is hazardous in nature.

Term insurance plans are a category of insurance plans that offer lump-sum amounts only at the time of death of the nominee or beneficiary. They provide high life coverage at affordable prices.